Each time you use this site, your use signifies that you accept the terms and conditions set forth below. The following terms and conditions represent the entire agreement between you and Pioneer relating to your use of this site.

Modification and Monitoring of the Pioneer Websites

Pioneer Investment Management USA Inc., Pioneer Investment Management, Inc., Pioneer Funds Distributor, Inc., Pioneer Investment Management Shareholder Services, Inc., the Pioneer mutual funds and their affiliates (together, "Pioneer") reserve the right, at Pioneer's discretion, to change, modify, add, or remove portions of the Pioneer website at any time. Pioneer expressly reserves the right to monitor any and all use of this website.

Passwords

When registering for account access or online transactions for your Pioneer mutual fund account, you are required to establish a password. You may change your password at any time online. To guard against predictable passwords, Pioneer requires that you choose a password between 6 to 10 characters, and must contain at least 2 letters and 2 numbers (i.e., "abc123"). The remaining characters may be any combination of numbers and letters. Spaces are not allowed. Please protect your password. It is your responsibility to keep your password confidential.

As a security measure, if your password is input incorrectly three times, your Internet account access and online transaction capabilities will be disabled. To reactivate these features, call a Pioneer representative at 1-800-225-6292.

Pioneer owns and operates this site. Applicable copyright laws protect the site contents on the Internet. No permission is granted to copy, distribute, modify, post or frame any text, graphics, video, audio, software code, or user interface design or logos.

All trademarks, service marks, and trade names displayed on this site are proprietary to Pioneer, except as explicitly noted under "Ownership of Other Materials."

Restrictions on Use of Materials

Other users and sites may not:

Copy, reproduce, republish, upload, post, transmit, or distribute in any way material from Pioneer's website or any website owned, operated, licensed, or controlled by Pioneer, except as specifically stated below under Limited Licenses.

Copy, modify, or display Pioneer's name, logo, text, or graphic images in any way without Pioneer's express written permission except as set forth in Limited Licenses.

Re-deliver any of the pages, text, images, or other content of Pioneer's website using "framing" technology without Pioneer's express written permission.

Modify or use the pages, text, images, or other content from Pioneer's website for any other purpose; doing so is a violation of Pioneer's copyrights and other proprietary rights.

Use devices (including software) that are designed to provide repeated automated access to the Pioneer website other than those made generally available by Pioneer. Pioneer reserves the right to take all measures necessary to prevent such access, including denial or termination of service.

Limited Licenses

Limited License for Individuals

Individuals may, for personal use, bookmark or point to any page within Pioneer's website.

Limited Linking License for Other Users and Sites

Other users and sites may include a link to Pioneer's website:

In a simple list of companies, by pointing to Pioneer's home page (pioneerinvestments.com).

In a list of companies that offers descriptions along with links, provided that such users and sites provide the following statement when linking to Pioneer's home page:

This Limited License entitles other users and sites to link to Pioneer's home page (pioneerinvestments.com) only. Linking to other content within Pioneer's website is prohibited without Pioneer's express written permission. This Limited License expressly prohibits the framing of Pioneer's content in any way or any other activity that may create a misimpression or confusion among users with respect to sponsorship or affiliation. Any site offering a link to Pioneer's website under this Limited License must deliver Pioneer's home page address (pioneerinvestments.com).

Downloading Software

If you download software from Pioneer's website under these terms, the software-including any files, images incorporated in or generated by the software, and data accompanying the software (collectively, the "Software")-is licensed to you by Pioneer for your personal use. However:

Pioneer does not transfer title to the Software to you.

You own the medium on which the Software is recorded, but Pioneer retains full and complete title to the Software, and all intellectual property rights therein.

You may not redistribute, sell, decompile, reverse engineer, disassemble, or otherwise reduce the Software to any other form whatsoever.

Ownership of Other Materials

Adobe®, Acrobat®, Acrobat® Reader, and the Acrobat logo are trademarks of Adobe Systems Incorporated.
Frank Russell Company is the owner of trademarks and copyrights relating to the Russell Indexes.
Lehman Brothers® is a trademark of Lehman Brothers, Inc.
Microsoft® and Internet Explorer are trademarks of Microsoft Corporation.
Moody's® is a trademark of Moody's Investors Services, Inc.
Morgan Stanley® and Morgan Stanley Capital International(MSCI)are trademarks of Morgan Stanley Group, Inc.
Morningstar® is a trademark of Morningstar, Inc.
Salomon Brothers® is a trademark of Salomon Brothers, Inc.
Standard & Poor's®, S&P®, Standard & Poor's 500, S&P 500®, S&P 500 and S&P MidCap 400 are trademarks of The McGraw-Hill Companies, Inc.
Wiesenberger®, is a trademark of Thomson Financial
Wilshire 5000® and Wilshire 4500® are trademarks of Wilshire Associates.

Third-Party Content

Pioneer is in no way responsible for the content of any site owned by a third party that may be linked to Pioneer's website via hyperlink, whether such hyperlink is provided by Pioneer or by a third party. No judgment or warranty is made with respect to the accuracy, timeliness, or suitability of the content of any site to which pioneerinvestments.com may link and Pioneer takes no responsibility for the accuracy, timeliness, or suitability of the content of any such site. By providing access to other websites, neither Pioneer nor its affiliates is recommending the purchase or sale of the stock issued by any company, nor is it endorsing services provided by any website's sponsoring organization.

Pioneer likewise is not responsible for content that appears on pioneerinvestments.com that may be provided by a third party. Pioneer is not responsible for their accuracy.

Disclaimers

ALL INFORMATION AND CONTENT ON THE PIONEER WEBSITE ARE SUBJECT TO APPLICABLE STATUTES AND REGULATIONS, FURNISHED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER RELATING TO THIS SERVICE, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

Pioneer and its affiliates intend that the information contained in this service be accurate and reliable; however, errors sometimes occur. Pioneer does not warrant that the functions contained in the materials will be uninterrupted or error-free, that defects will be corrected, or that this site and the servers that make it available are free from viruses or other harmful components.

By using pioneerinvestments.com, you accept at your own risk that the Internet and online communications medium may not perform as intended despite the efforts of Pioneer, your Internet service provider, and you. You (and not Pioneer) assume the entire cost of all necessary servicing, repair, or correction of your property or operations as a result of using this website.

A reference to a fund or security anywhere on this website is not a recommendation to buy, sell, or hold that or any other security.

If you live in a state that does not allow disclaimers of implied warranties, our disclaimer may not apply to you.

Limitation of Liability

Pioneer and its affiliates are not liable under any circumstances-including but not limited to negligence-for any special or consequential damages that may result from the use of, or the inability to use, the materials on this site, even if Pioneer or a Pioneer-authorized representative has been advised of the possibility of such damages.

Pioneer and its affiliates are not liable for damages or injury, including but not limited to damages or injury caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information, whether resulting, in whole or in part, from, among other things, breach of contract, other wrongful behavior or negligence. If you live in a state that does not allow the limitation or exclusion of liability or incidental or consequential damages, the above limitation or exclusion may not apply to you.

In no event shall Pioneer's total liability to you for damages, losses, and causes of action-whether in contract, tort (including, but not limited to, negligence), or otherwise-exceed the amount paid by you, if any payment was made, for accessing Pioneer's site.

Jurisdictional Issues and Applicable Law

Unless otherwise specified, Pioneer controls and operates this site from our offices within the Commonwealth of Massachusetts, United States of America.

Pioneer does not claim that materials in this site are appropriate or available for use in locations other than Massachusetts. If you choose to access this site from other locations, you do so on your own initiative, and you are responsible for compliance with any applicable local laws.

Software from this site is further subject to United States export controls. Software from this site may not be downloaded or otherwise exported or re-exported outside the United States. By downloading or using the Software, you represent and warrant that you are not located in, under the control of, or a national or resident of any country or territory outside of the United States.

The laws of the Commonwealth of Massachusetts, exclusive of conflicts of laws, govern this Agreement and all future agreements you enter into with Pioneer, unless otherwise indicated in such other agreements. If you take legal action relating to these terms, you agree to file such action only in the Boston Municipal Court, Suffolk County, Massachusetts, or the United States District Court for the Eastern District of Massachusetts, and you consent and submit to the personal jurisdiction of those courts for the purposes of litigating any such action. This is the case regardless of whether you reside or transact business with Pioneer in Massachusetts or elsewhere.

Termination

Pioneer may terminate your access to the Pioneer website (or any portion of the website or any services offered on the Pioneer website) immediately without notice and without limitation if, in Pioneer's sole discretion, you fail to comply with any term or provision of this agreement.

Pioneer shall have no liability to you for terminating your access to the Pioneer website; provided, however, that if Pioneer terminates your access without cause, Pioneer will refund the pro rata portion of any fee you may have paid for the portion of services not furnished to you as of the date of termination. Upon termination, you must destroy all materials obtained from this or any Pioneer site and all copies of those materials, whether or not they were made under these terms.

Integration and Severability

If any provision of these terms is deemed unlawful, void, or for any reason unenforceable, then that provision will be deemed severable from these terms and will not affect the validity and enforceability of the remaining provisions.

Click to view our Privacy Notice, which outlines our current policies and practices with regards to how information about individuals is collected and used.

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your advisor or Pioneer Investments for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it here.